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Paul Revere and the First Notes
Paul Revere was the first person to make plates for printing note money to finance the revolutionary war. The Contenential Congress authorized this because they needed money for supplies of the war. These notes were reedemable in spanish milled dollars. -
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History of U.S. Currency
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Bank of North America
The government issued this bank in Philadelphia as the first national bank in North America. This supported the financial operations of the fledgling government. -
The dollar
This is when congress adopted the dollar as the official currency of the united states. They were still used bank notes at this time but they were going to start to make the dollar bill so it becomes the offical currency. -
First Central Bank used by the U.S.
This was the first central bank issued by the congress. It served for a 20 year period. This was the first bank to preform central bank functions. The congress closed the bank in 1811 and then they reconized that they needed another central bank in the U.S. so they reopened one in 1816 and that served for another 20 year period. -
The "Mint Act"
Congress established the first coinage system of the U.S. and they also made the dollar a principle unit of currency. By this the U.S. was the first country to adopt a decimal system for their currency. The first U.S. Coins were struck in 1793 and were given to Martha Washington. -
2nd Bank
The second U.S. bank was finally built in 1816. This bank was an all around bank like today where you could deposit and withdrawl things plus you could take out a loan or pay one off here. -
Civil War
Since the government had to finance the civil war that was going on at this time, they had to issue paper money for the first time called demand-notes. The country almost went bankrupt. -
First paper money
Government issued their first paper money to the U.S. until 1861. In replace of their paper moeny the government had treasury notes that represented money for the people. These were used all throughout the years of the War of 1812 until the panic of 1857. During this time about 1600 private banks were required to circulate their own money under their state. -
The Design of the dollar bill.
The design of the dollar bill was issued in 1862 where congress included fine-line ingraving, signatures, and the U.S. seal that they use on all paper money. The signatures involved in the prints stop counterfitters from redesigning the bill. -
Treasury Dempartment and their money
This was the first paper money that the Treasury Department issued these were called "greenbacks" This was the first money that was commonly used by all people -
secret service and gold certificates
The government made the secret service work for the department of treasury to look for counterfitters and to protect the money and gold. gold certificates were issued from the department of tresury in replace for gold coins. -
Bearu of Printing
The US made a printing press and the Bearu of engraving and printing for printing their own currency. This also kept away counterfiters because they were creating their own design with their own seal and money amount. -
Silver Certificates
The government of the U.S. made silver certificates istead of having the actual silver. You can go to a bank and exchange your silver for a silver certificate or for money. They did this so that a bank can hold all of these highly costed metals. -
Currency Production consolidated
The department of treasury's bearu of engraving and printing assumed all of their positions of creating all their certificated intricate engravings and also bank notes and overall design of the money. -
Federal Reserve Act
The government made the Federal Reserve Bank as the Central bank of our country. This provided a national banking system of the United States. After this happened the Federal Reserve Board issued a new currency called Federal Reserve Notes. -
Standardized Design
This was the first change to the dollar bill that happened in history. The government made the bills smaller and they also decreased the number of designs included in dollar bills. This stopped people from counterfitting the bills becasue they keep changing the design. -
In God We Trust
The government issued the slogan "In God We Trust" on all currency in the United States in 1955. It first appered on 1 dollar silver certificates and then began appearing on federal reserve notes. Now this is on all currency in the U.S. -
Security thread and microprinting
Microprinting and security was issued on 50 dollarbills and also 100 dollar bill notes. This detered advanced counterfitters to re-make any of their real bills. -
Currency Redesign
This was the first redesign of currency in 63 years. The government redesigned all bills in a 10 year span. The government then issued that all bills will be redesigned every 10 years so that they can stay away from counterfeiters. -
State Quarters
The government has issued a progam for quarters to reissue quarters through a ten year span but coming out with 5 new quarters every year. Each quarter has a state and their motto on the tails side.
